CPPIB partners in $120 mln funding of fashion brand Lulus
Canada Pension Plan Investment Board (CPPIB) has partnered in a US$120 million investment in Lulus, a Chico, California-based digitally native apparel brand for women. CPPIB invested alongside IVP, a U.S. late-stage venture capital and growth equity firm. They join existing investor HIG Growth Partners, which has backed Lulus since 2014. Lulus started out in 1996 as a vintage boutique and in 2008 transitioned to purely online sales of products from the Lulus label and a selection of designers and brands. The company uses data to anticipate demand trends and a merchandising strategy to engage its millennial customer base.
17 May 2018•5 mins read
